Kevin Warsh Clears Ethics Hurdle, Fed Chair Hearing Could Come Next Week

Federal Reserve chair nominee Kevin Warsh has filed his Office of Government Ethics (OGE) paperwork with the Senate Banking Committee, clearing the last major bureaucratic step before a confirmation hearing can be scheduled.

The OGE filing had been the primary holdup after the committee initially targeted an April 16 hearing date. That timeline slipped when the administration failed to deliver the documents in time.

What Happens Next for Warsh’s Fed Chair Confirmation Hearing

Senate rules require one week of notice before a hearing. With the paperwork now submitted, the Banking Committee could schedule Warsh’s appearance as early as the week of April 21.

Hearings are typically held on Tuesdays and Thursdays.

The disclosure process proved especially complex. Warsh is married to Estée Lauder heir Jane Lauder, whose estimated net worth is $1.9 billion. His 2006 financial filings listed nearly 1,200 assets, most belonging to his wife.

President Donald Trump nominated Warsh on January 30 to replace Jerome Powell, whose chair term expires May 15.

The White House formally transmitted the nomination to the Senate on March 4.

Tillis Threat and Confirmation Outlook

One complication remains. Sen. Thom Tillis (R-NC) has vowed to block any Fed nominee until the Department of Justice drops a criminal probe into Powell.

“I will oppose the confirmation of any Federal Reserve nominee, including for the position of Chairman, until the DOJ’s inquiry into Chairman Powell is fully and transparently resolved,” Senator Tillis articulated in a late January post.

With the Banking Committee split 13-11 along party lines, a single Republican defection could stall the vote.

However, White House officials remain confident that Warsh will be confirmed before Powell’s term ends next month.

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